The New International Money Game

Front Matter....Pages i-xiv
Introduction....Pages 1-7
A System Is How the Pieces Fit....Pages 8-16
The Name of the Game Is Money — But the Disputes Are about Where the Jobs Are....Pages 17-32
Front Matter....Pages 33-33
Gold — How Much Is a ‘Barbarous Relic’ Worth?....Pages 35-50
The Gnomes of Zurich Play in the Largest Market in the World....Pages 51-64
The Greatest Monetary Agreement in History....Pages 65-81
Radio Luxembourg and the Eurodollar Market Are Both Offshore Stations....Pages 82-91
The Dollar and Coca-Cola Are Both Brand Names....Pages 92-104
They Invented Money So They Could Have Inflation....Pages 105-117
Global Imbalances and the Persistent US Trade Deficit....Pages 118-133
Five Asset Price Bubbles in 30 Years — A New World Record....Pages 134-156
A New World Record — Four Financial Crises in 25 Years....Pages 157-177
Central Bankers Read Election Returns, Not Balance Sheets....Pages 178-188
Monetary Reform — Where Do the Problems Go When Assumed To Have Been Solved?....Pages 189-202
Front Matter....Pages 203-203
Globalization 1.0 — The Silk Road to Asia and the Salt Caravans across the Sahara....Pages 205-218
Taxation, Regulation, and the Level Playing Field....Pages 219-235
Banking on the Wire....Pages 236-249
The Reverend Thomas Malthus, the OPEC Cartel, and the Price of Energy from 1800 to 2100....Pages 250-259
The World Market for Bonds and Stocks....Pages 260-267
MBSs, ABSs, CMOs, CDOs, Zeros, Swaps, Options, and Credit Default Swaps — The Revolution in Finance....Pages 268-281
Front Matter....Pages 203-203
Why Are Multinational Firms Mostly American?....Pages 282-299
Japan — The First Superstate....Pages 300-313
China — The 800-Pound Gorilla....Pages 314-324
From Marxist Command Economies to Market Capitalism....Pages 325-336
Fitting the Pieces Together Once Again....Pages 337-344
Back Matter....Pages 345-355